Guillermo Varela
Guillermo Varela is "80%" likely to join Boca Juniors on a loan deal. (Reuters)

Manchester United's first summer signing Guillermo Varela is closing in on a loan move back to South America just a month after sealing his move to Old Trafford.

The 20-year-old full back arrived from Atletico Penarol in a deal reportedly worth £2.4m in June after making just one appearance for the Uruguayan club, suitably impressing United coaches during a trial spell in Manchester during the closing stages of last season.

But the Uruguayan youngster looks set to make a quick return to his home continent with Argentinian giants Boca Juniors "80%" sure of securing a loan deal for the United youngster.

Speaking to Radio La Red, Boca's club secretary Jose Requejo said: "Varela is a possibility and we like him. The loan has been 80% arranged."

Varela's agent was also quizzed on the prospect of United's sole signing so far this summer making a move to Boca, indicating that the Argentine club are in pursuit of the highly-rated full back.

"Varela could go to Boca," his agent Pablo Bentacourt told Radio 9. "He is a player that Boca are following but he is a Manchester United player. In any case, I am working with United so that Guilermo Varela can go to Boca on loan."

Although identified as a promising young talent, Varela is unlikely to feature in David Moyes' first team plans as he prepares to take United into their first ever Premier League campaign without Sir Alex Ferguson at the helm.

In Varela's way stands Patrice Evra and Fabio da Silva, the latter who spent last season out on loan with Queens Park Rangers and is likely to feature in the United squad this season.

The club also remain linked with a move for Everton full back Leighton Baines, after having an opening bid of £12m rejected. Reports have suggested that the resilient Toffees are looking for a fee in the region of £20m for the England international, but it remains to be seen if Moyes will return for his former player.

United fans were given the chance to take a closer look at Varela as he represented Uruguay in the Under-20 World Cup in Turkey this month, where he made seven appearances as his nation progressed to the final where they lost on penalties to France.